There’s a growing case for allowing crypto firms to bypass banks
Making the European Central Bank accessible to payment companies other than traditional banks would allow users to redeem their stablecoins directly for cash.This post was originally published on this site
Australia marks first FX transaction using a CBDC as eAUD pilot continues
The Australian digital dollar was used in a trade for a U.S. dollar stablecoin using an Ethereum layer 2 blockchain.This post was originally published on this site
Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions
Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of $82.84 billion, tether is a mere $433 million shy of reaching its all-time high (ATH) set on May 8, 2022. Stablecoin […]
The US should promote USDC — before it’s too late
USDC brings stability to cryptocurrency. It would behoove the financial system if policymakers took measures to foster its adoption.This post was originally published on this site
Coinbase Launches International Exchange for Bitcoin and Ether Perpetual Futures
Coinbase, the San Francisco-based cryptocurrency exchange, recently announced the launch of a new service called Coinbase International Exchange. The new platform will enable institutional users outside of the United States to trade bitcoin and ethereum perpetual futures. The company stated in a tweet that the service will begin by offering perpetual futures settled in USDC […]
Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31
While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four […]
Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction
Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is […]
Sushiswap Smart Contract Bug Results in Over $3M in Losses; Head Chef Says Hundreds of ETH Recovered
According to several reports, a bug introduced to the decentralized exchange (dex) protocol Sushiswap’s smart contract has resulted in more than $3 million in losses. The blockchain and smart contract security firm Peckshield explained the exploited contract was “deployed in multiple blockchains.” Dex Platform Sushiswap Suffers From Smart Contract Exploit Over the weekend, the dex […]
Rogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses
On April 3, 2023, at Ethereum block height 16,964,664, a group of MEV (Maximal Extractable Value) bots were exploited for $25.3 million. An analysis of the exploit revealed that a renegade validator switched the MEV bots’ transactions and seized various crypto tokens, such as 7,460 wrapped ether and 64 wrapped bitcoin. While the Mechanisms Behind […]
Pancakeswap Launches Version 3 of Protocol on BNB and Ethereum Blockchains
On Monday, April 3, the decentralized exchange (dex) platform Pancakeswap launched version 3 of its protocol (v3) on the Binance Coin (bnb) and Ethereum blockchains. The new application aims to improve the performance of the dex protocol and reduce fees by implementing four levels of trading fees. New Features and Improved Capital Efficiency Offered in […]